Ten Misconceptions About Building Brand Loyalty in the Age of Amazon verticals
Dispelling common myths to ensure that your business thrives
Amazon is an ecommerce giant that continues to dominate the market, leaving many retailers wondering what to do next. While it may seem like a daunting task to stay afloat, there are several ways you can build your own brand loyalty and help your business grow. This report dispels ten common misconceptions that may be preventing you from proven strategies that attract, convert, and delight shoppers—even in the age of Amazon.
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Reality: Amazon is relevant to all verticals. As Amazon grows, it is constantly entering new verticals/categories such as health, beauty, sportswear, shoes, and even groceries. Fashion retailers didn’t think they had to worry about Amazon right up until the day Amazon launched seven in-house fashion labels that cater to men, women, and children. This type of trend will continue to be repeated across verticals as Amazon achieves massive growth.
Reality: It’s not one or the other; it’s both. Many retailers make the mistake of thinking that Amazon is either a direct competitor that they have to defeat at all costs, or the best opportunity they have to expand their business. The reality, of course, is somewhere in between; Amazon can be both an ally and an adversary depending on your goals and your strategy for growing your business. To remain competitive and maintain customer loyalty, you must think strategically about if, how, and when you will engage with Amazon.